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Derivative Financial Instruments and Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Effect of Net Investment Hedges on AOCI | The effect of our net investment hedges on AOCI for the three and nine months ended September 30, 2020 and 2019 was as follows:
|  | Gain (Loss) Recognized in Other Comprehensive Income |
|  | 3 Months Ended September 30, |  |  | 9 Months Ended September 30, |
Instrument |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Euro Notes |  | $ | (43.8 | ) |  | $ | 42.6 |  |  | $ | (45.7 | ) |  | $ | 51.1 |
Cross-currency swaps |  |  | (11.3 | ) |  |  | 2.8 |  |  |  | (8.9 | ) |  |  | 2.8 |
Impact of Changes in Fair Values of Derivatives Designated as Cash Flow Hedges on OCI, AOCI and Earnings | The following tables present the impact that changes in the fair values of derivatives designated as cash flow hedges had on other comprehensive income (“OCI”), AOCI and earnings for the three and nine months ended September 30, 2020 and 2019:
|  |  |  |  |  |  | (Loss) Gain Reclassified |
|  | (Loss) Gain Recognized in OCI |  |  |  |  | from AOCI into Income |
|  | 3 Months Ended September 30, |  |  | Location of (Loss) Gain Reclassified |  | 3 Months Ended September 30, |
Instrument |  | 2020 |  |  | 2019 |  |  | from AOCI into Income |  | 2020 |  |  | 2019 |
Cross-currency swaps |  | $ | (3.2 | ) |  | $ | 4.2 |  |  | Interest and other expenses (income), net |  | $ | (3.3 | ) |  | $ | 4.6 |
|  |  |  |  |  |  | (Loss) Gain Reclassified |
|  | (Loss) Gain Recognized in OCI |  |  |  |  | from AOCI into Income |
|  | 9 Months Ended September 30, |  |  | Location of (Loss) Gain Reclassified |  | 9 Months Ended September 30, |
Instrument |  | 2020 |  |  | 2019 |  |  | from AOCI into Income |  | 2020 |  |  | 2019 |
Cross-currency swaps |  | $ | 1.6 |  |  | $ | 9.2 |  |  | Interest and other expenses (income), net |  | $ | 1.4 |  |  | $ | 10.0 |
Effect of Forward Contracts not Designated as Hedging Instrument | The effect of our forward contracts that are not designated as hedging instruments on the consolidated statements of operations for the three and nine months ended September 30, 2020 was as follows:
|  | Location of Gain |  | Amount of Gain Recognized in Income |
Instrument |  | Recognized in Income |  | 3 Months Ended September 30, |  |  | 9 Months Ended September 30, |
|  |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Foreign currency forward contracts |  | Interest and other expenses (income), net |  | $ | — |  |  | $ | 4.6 |  |  | $ | 0.3 |  |  | $ | 13.8 |
Fair Value of Derivative and Non-Derivative Assets and Liabilities on the Consolidated Balance Sheets | The following tables present the fair value of derivative and non-derivative assets and liabilities on the Consolidated Balance Sheets as of September 30, 2020 and December 31, 2019:
|  | Assets |
|  |  |  | September 30, |  |  | December 31, |
|  | Balance Sheet Location |  | 2020 |  |  | 2019 |
Instruments designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |
Cross-currency swaps |  | Prepaid expenses and other assets |  | $ | 12.0 |  |  | $ | 9.7 |
Total instruments |  |  |  | $ | 12.0 |  |  | $ | 9.7 |
|  | Liabilities |
|  |  |  | September 30, |  |  | December 31, |
|  | Balance Sheet Location |  | 2020 |  |  | 2019 |
Instruments designated as net investment hedges: |  |  |  |  |  |  |  |  |  |
Euro Notes |  | Long-term debt |  | $ | 1,049.6 |  |  | $ | 1,002.9 |
Cross-currency swaps |  | Accrued liabilities |  |  | 16.1 |  |  |  | 6.0 |
Total instruments |  | $ | 1,065.7 |  |  | $ | 1,008.9 |

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